Bear Stearns (fka BSC)

[EquityTrader]

JPM raised their bid to $10 and told Cayne to sell them his shares. Simply put. Cayne's + another 40% gives them more than enough control, I wouldn't be surprised if JPM has been buying since it went to $3/share.

After the 40% dilution you can cut this stock down to $6/share + some goodwill...call it $7/share. Get in position to either short or buy puts on BSC. Its not going to get any better until its gets much worse.

Glad to have some other positions right now. Made my money on the dead cat bounce...but, as with all dead cats, they may bounce when you drop them, but in the end, their dead.

And to think Lewis could have bought BSC outright for $1 Billion months ago and had 100% control. I bet he is pissed off beyond belief, but he can't do anything about it.